The defining feature of the global economy is not the flow of goods — international trade has existed for centuries — but the flow of capital, people, and information. Time and space are no longer a barrier to doing deals anywhere in the world; computer networks permit instantaneous transactions, and market watchers operate on a 24-hour basis. Consolidation in the financial sector puts control over the flow of money into fewer hands — indeed, reducing the “hands†at all, as financial transactions are electronically mediated. International mergers and acquisitions are growing, especially as many countries eased restrictions on foreign direct investment.
Rosabeth Moss Kanter is the Arbuckle Professor of Business at the Harvard Business School. She is one of the most celebrated and renowned management experts in the world and is the author of 15 books. She has received 20 honorary doctorates and was named one of the "50 Most Powerful Women in the World" by the Times of London.